1. FY27 consolidated guidance - Management guided FY27 consolidated revenue of ₹925-965 crore, EBITDA of ₹100-105 crore, and PAT of ₹66-70 crore. At the midpoint, that implies \~33% revenue growth and \~40% EBITDA growth over FY26, with no large capex beyond a ₹20 crore byproduct project.
2. Raipur ethanol Phase 2 commissioned - Commercial operations at the expanded Raipur distillery commenced on 25 March 2026, lifting installed capacity from 130 KLPD to 282 KLPD. Full benefits flow from FY27, and even at management's conservative assumption of \~50% utilisation on the new capacity, consolidated revenue crosses ₹950 crore.
3. ₹400 crore ethanol order book - For the ongoing Ethanol Sugar Year (Nov 2025-Oct 2026), the company received a ₹400 crore order for \~47.9k KL from PSU OMCs in cycle one, with delivery through 31 October 2026. That single order already covers more than the division's entire FY26 revenue of ₹337 crore, with additional private-OMC tenders expected by end-June 2026.
4. Ethanol byproduct value addition - A second byproduct value-addition project is underway and expected to complete in a few months. The first such project already lifted margins, helping the ethanol division deliver 17.3% EBITDA margin in FY26 against a guided sustainable range of 12-15%.
5. Consumer division medium-term target - Management sees a path to ₹500 crore in the consumer division over the medium term, with the oil basket growing to ₹300-350 crore and food products adding \~₹150 crore. FY26 consumer revenue was ₹184 crore with \~8.3% EBITDA margin, and Q4 FY26 growth accelerated, suggesting the base is now turning.
6. Bulk division lean-inventory turnaround - The bulk division shifted to a lower-inventory business model, reducing working capital and improving profitability, with FY26 EBITDA rising to ₹2.6 crore from ₹1.7 crore a year earlier. Q4 FY26 alone delivered ₹2.7 crore EBITDA on ₹100 crore revenue, and steady-state margins are guided at 5-6%.
7. NSE listing - The company listed on the NSE Main Board on 11 December 2025 under symbol MODINATUR. The listing widens the investor base and improves trading liquidity for a ₹550 crore market-cap stock that was previously BSE-only.